Borrowing Facilities

RNS Number : 7352A

Montanaro European Smaller C.TstPLC

13 September 2018

 

To:                   RNS

Date:                13 September 2018

Company:        Montanaro European Smaller Companies Trust Plc (the "Company")

LEI:                  213800CWSC5B8BG3RS21

Borrowing Facilities

The Company announces that it has entered into a Euro 10 million term loan facility agreement for a five-year term at a fixed rate of 1.33% per annum with ING Bank N.V., London Branch ("ING").

The facility has been fully drawn down today and together with cash resources, has been used to repay the Company's existing loan facilities totalling Euro 25 million with ING which mature today.

The new facility is repayable on 13 September 2023.

The Company has also entered into a five-year revolving credit facility with ING, for Euro 15 million.

The Board believes that the combination of these facilities gives the Company greater flexibility in pursuit of its investment objective.

I Ridge

For and on behalf of

F&C Investment Business Limited,

Company Secretary

Telephone: [phone]

 

END

 

 

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